Integra LifeSciences(IART) - 2023 Q4 - Earnings Call Presentation

Financial Performance - Q4 2023 - Total reported revenue was $397 million, a decrease of 0.2% compared to Q4 2022[19] - Organic revenue decreased by 1.2% compared to Q4 2022, but increased by 3.6% excluding Boston[20] - Adjusted EPS was $0.89, a decrease of 5.3% compared to Q4 2022[20] - Adjusted EBITDA margin was 25.3%, a 230 bps increase compared to 2022[4] - Operating cash flow was $58.7 million, with a 49.5% free cash flow conversion[20] Financial Performance - Full Year 2023 - Reported revenue was $1.542 billion, a decrease of 1.0% compared to 2022[43] - Organic revenue was flat compared to 2022, but increased by 5.5% excluding Boston[44] - Adjusted EPS was $3.10, a decrease of 7.7% compared to 2022[44] - Adjusted EBITDA margin was 24.0%, a 240 bps increase compared to 2022[37] - Operating cash flow was $140 million, with a 29.5% free cash flow conversion[44] Segment Performance - Q4 2023 - Codman Specialty Surgical (CSS) revenue was $271.6 million[9] - Tissue Technologies (TT) revenue was $125.4 million[14] - Neurosurgery grew 2.0%[9] - Instruments grew 3.0%[9] - Wound Reconstruction declined 11.1%[5] 2024 Outlook - Q1 2024 revenue is projected to be between $360 million and $365 million[55] - Q1 2024 organic growth is expected to be between 4.0% and 5.0%[48] - Full year 2024 revenue is projected to be between $1.603 billion and $1.618 billion[48]